Credit Card Scammers Flock to Online Shopping

Credit Card Scammers Flock to Online Shopping.

Credit card fraud in the USA will be $4 billion this year, and it seems will continue to rise to $20 billion by 2020. This escalation is a major concern for all card issuers to make use of their cards safer for the consumers. It appears that current safeguards are not sufficient to deter criminal elements. Online transactions, due to its apparent anonymity – the consumer cannot be authenticated like a normal transaction where he/she is in front of the retail store salesperson – are particularly vulnerable.

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http://www.wsj.com/articles/credit-card-scammers-embrace-online-shopping-1477387802